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one of the areas where obama has really hurt the economy is with small businesses. his investment tax increase really hurts small business. it went from 35% to 43% on passive income. this really is an usual. during expansions you typically see new business startups accelerate. this is the only recovery i've seen back to the 1930s where new business startups have flat lined. when you increase tax rates on them you don't get that capital. all that money that rick is talking about that needs to be spent, invested into new businesses. that's the genesis of economic growth. capital investments. >> while small businesses are getting hurt, the big businesses have been doing fine. in fact, look what happened with the obama recovery compared to the bush expansion. the top one percent, we're hearing a lot about them, they had an expansion of 65% during bush. during the obama so called recovery they got 93%. so the rich have all these special deals which is helping them get more money while the poor are losing. >> i hear what you are saying. here's the thing. we see time and a
one of the areas where obama has really hurt the economy is with small businesses. his investment tax increase really hurts small business. it went from 35% to 43% on passive income. this really is an usual. during expansions you typically see new business startups accelerate. this is the only recovery i've seen back to the 1930s where new business startups have flat lined. when you increase tax rates on them you don't get that capital. all that money that rick is talking about that needs to be...
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Dec 5, 2013
12/13
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blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day and the nasdaq edged up a fraction and s&p fell two points. the same concerns about the fed's next move sent the yield on the benchmark treasury note above 2.8%, the highest since september. >> how does the federal reserve see the economy right now as it prepares for the next policy meeting next month? steve liesman looks at the beige book survey and what that, along with this friday's november jobs report, could mean for the future of its stimulus program. >> reporter: some strong employment data today raising prospects for better job growth and less stimulus. adp in a much followed monthly
blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day...
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Dec 10, 2013
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gradual improvement in the economy. the key point here is can janet yellen, convince everyone that tapering is not tightening. that's what we might hear very much on that. >> that's what we need to do. >> tapering is not happening in december or january. >> under any starncircumstance s i expect them to lay the groundwork to make a clearer delineation. >> let's head to dominic chu for a market flash. >> check out shares the stock at session highs. the company says a late stage trial of its experimental hepatitis c therapy showed 96% of patients in the study showed improvement. yesterday gilead sciences had its own pill approved by the fda. it is considered by industry analysts to be the leader in the all oral hepatitis field expected to reap billions in annual sales. its stock is moving lower so competition perhaps having a hand in that trade. >> dominic, thank you very much. more wintry weather hitting the northeast. three to six inches of snow expected in some parts including the metro area of new york. weather channe
gradual improvement in the economy. the key point here is can janet yellen, convince everyone that tapering is not tightening. that's what we might hear very much on that. >> that's what we need to do. >> tapering is not happening in december or january. >> under any starncircumstance s i expect them to lay the groundwork to make a clearer delineation. >> let's head to dominic chu for a market flash. >> check out shares the stock at session highs. the company says...
SFGTV2: San Francisco Government Television
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Dec 4, 2013
12/13
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very low density and while industry is still important to san francisco, it's not the driver of the economy in the future. and so that proposal as can you see in the southern part of the southern part of the map was changing the zoning to zoning conditions that allow housing and allow office jobs or other kinds of commercial uses. the build form in soma is not like downtown. buildings are less tall and have more girth, if you will. and so that is kind of what we're trying to replicate in the neighborhood. you can see the height nodes from the map and mostly along the transit stations, but otherwise, we're expecting the support of bigger buildings and is that possible because of the large parcels that reflect its historical industrial nature. finally let's speak to what the build-out could be? so there is already a lot of uses on the ground today. we have a 700 houses unitss and 50,000 jobs in the neighborhood. and just to talk about jobs for a second, the real impetus of this plan is to support job growth. we have done a lot of planning in the planning department for the last ten years for
very low density and while industry is still important to san francisco, it's not the driver of the economy in the future. and so that proposal as can you see in the southern part of the southern part of the map was changing the zoning to zoning conditions that allow housing and allow office jobs or other kinds of commercial uses. the build form in soma is not like downtown. buildings are less tall and have more girth, if you will. and so that is kind of what we're trying to replicate in the...
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Dec 3, 2013
12/13
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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. yeah... try new alka seltzer fruit chews. they work fast on heartburn and taste awesome. these are good. told ya! i'm feeling better already. [ male announcer ] new alka seltzer fruits chews. enjoy the relief! my boyfriend has a lot of can't-miss moments. i checked out the windows phones and saw the lumia 1020 has 41 megapixels. so i can zoom way in even after i take the picture. and i can adjust the shot before i take it so i get it exactly how i want. so, i went with a windows phone. maybe i just see things other people don't. ♪ honestly ♪ i wanna see you be brave ♪ so when coverage really counts, count on nationwide insurance. because what's precious to you is precious to us. ♪ love, love is strange just another way we put members first. because we don't have shareholders. join the nation. ♪ baby... ♪ nationwide is on your side ♪ cortizone-10 has the strongest nonprescription itch medicine plus moisturizers to help heal skin fast. cor
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. yeah... try new alka seltzer fruit chews. they work fast on heartburn and taste awesome. these are good. told ya! i'm feeling better already. [ male announcer ] new alka seltzer fruits chews. enjoy the relief! my boyfriend has a lot of can't-miss moments. i checked out the windows phones and saw the lumia 1020 has 41 megapixels. so i can zoom way in even after i take the...
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Dec 10, 2013
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here's reasons to still be concerned about the american economy. 10.9 million still unemployed. many over six months or a year. the recovery has been narrow. limited wage gains in the middle of the country, mom and pop, not benefiting and the third variable, the, quote, steroids of the fed. everyone has an opinion of how much they've mattered. we don't really know. at some point we'll find out. bring in dan greenhouse and adam grimes. welcome as well. also as well herb and steve with us. i'm going to start with you, dan. i laid out the reasons to not be optimistic. are any of those signals leaning more positive these days? >> well, you brought up reasons why the financial crisis might not be over yet but that's separate from whether or not up with would be opt mystic. those points are entirely valid. whether or not you're optimistic really results in whether or not you think there's a fundamental change in the coming let's say six to 12 months compared to the previous six to 12 months and in that regard the answer is probably no. >> what about you, adam? handing around the glass
here's reasons to still be concerned about the american economy. 10.9 million still unemployed. many over six months or a year. the recovery has been narrow. limited wage gains in the middle of the country, mom and pop, not benefiting and the third variable, the, quote, steroids of the fed. everyone has an opinion of how much they've mattered. we don't really know. at some point we'll find out. bring in dan greenhouse and adam grimes. welcome as well. also as well herb and steve with us. i'm...
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Dec 3, 2013
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their economy is growing better. but when it comes to health care, they come across the border. >> well, the wealthy and those that can afford to come across the border do. but those that can't get access to health care in america are stuck in emergency rooms with high temperatures waiting to get their children taken care of. i concede this is a mess. we may have tried too much too fast and on a partisan basis. i've said we should hit the reset button and open ourselves up to new ideas. and larry kudlow always has new ideas, even if they're conservative. >> i appreciate that and appreciate your honesty. republicans are licking their chops about the elections coming up in 2014, roughly a year from now. we're going to talk more about that later in the show. what i want to ask you is, what can you do for a simple, transparent, compassionate response to the breakdown of obama care? i have an answer. but i want you to go first. >> well, with any health reform proposal, we have to look first at the root cause of the proble
their economy is growing better. but when it comes to health care, they come across the border. >> well, the wealthy and those that can afford to come across the border do. but those that can't get access to health care in america are stuck in emergency rooms with high temperatures waiting to get their children taken care of. i concede this is a mess. we may have tried too much too fast and on a partisan basis. i've said we should hit the reset button and open ourselves up to new ideas....
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Dec 6, 2013
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thanks to the latest news about the economy, and jobs in america. we learned today that last month's 203,000 new jobs were created, better than experts predicted. and look at the unemployment rate. down to 7%. and that's the lowest level since president obama took office, the lowest unemployment rate now in five years. >>> on the subject of jobs, our made in america team is back tonight. and thousands of you have already told us, you are in, and ready to buy american made gifts. it's this christmas season. what a gift to give. even just one thing could help create thousands of new jobs right here at home. you are signing up to give american workers a merry christmas, and abc's anchor david muir, captain of the team with us tonight. >> diane, we have reported on clothing right here, asking the simple question is anything made here in america any more. well, tonight not only are these jeans made here, this number right here is about to reveal everything. right down to the farmer, who grew the cotton. this week, our kickoff, made in america december to
thanks to the latest news about the economy, and jobs in america. we learned today that last month's 203,000 new jobs were created, better than experts predicted. and look at the unemployment rate. down to 7%. and that's the lowest level since president obama took office, the lowest unemployment rate now in five years. >>> on the subject of jobs, our made in america team is back tonight. and thousands of you have already told us, you are in, and ready to buy american made gifts. it's...
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market but probably as the economy froze. >> and, there you go. maybe it is overseas and look who they're competing with overseas. this industry might finally be right-sized. delta, united, now american having consummated mergers that make them what looks like pretty solid. take a look at the stock, not only of those guys but look at the stock today of the new american. ticker symbol aal. no more amr. today that closed up about 3% last i saw. i think that's what it was. that is not a bad day for a first day out of bankruptcy for a new company. at o'hare a lot of people waiting. glad it is not me today. cheryl: now the fun part begins. that is integration and doug parker saying they certainly learned from the mistakes that united and continental made. jeff, you had a front row seat yourself. >> and themselves. david: and overseas. great interview, it was terrific. regulations over there are so much more onerous in many way that is than regulations here. it's a tough deal for airlines. cheryl: funny he said international. david: they will need to go
market but probably as the economy froze. >> and, there you go. maybe it is overseas and look who they're competing with overseas. this industry might finally be right-sized. delta, united, now american having consummated mergers that make them what looks like pretty solid. take a look at the stock, not only of those guys but look at the stock today of the new american. ticker symbol aal. no more amr. today that closed up about 3% last i saw. i think that's what it was. that is not a bad...
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Dec 5, 2013
12/13
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david, what does this say about the economies and the taper, if that happens, over the past week or so? obviously it's been a great year, but the past five days have been not so great. what's the market telling you? >> well, this is really consistent with the consolidation and small pullbacks we've seen over the last few months. really we think this will be short-lived and we look forward to a year-end rally and another strong year in 2014. >> so what do you think the market is reacting to? just the fact that prices had run up so far and people want to get some money off the table and take some profits? is it, as joe was saying off camera, a taper tantrum or what. >> i think to call it a tantrum is a little strong. you're seeing markets just a couple percentage points off their highs. so this is more has to do with the market digesting the recent gains and also expecting some tapering in 2014. but we don't think it's going to be severe, and we think the market's going to increase with the taper, and it's a reflection, as joe said, in stronger economic growth looking forward. >> joe, do
david, what does this say about the economies and the taper, if that happens, over the past week or so? obviously it's been a great year, but the past five days have been not so great. what's the market telling you? >> well, this is really consistent with the consolidation and small pullbacks we've seen over the last few months. really we think this will be short-lived and we look forward to a year-end rally and another strong year in 2014. >> so what do you think the market is...
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Dec 6, 2013
12/13
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it demonstrates the economy may be improving and that the fed should be getting out of the way. >> mike, i'm sorry to interrupt. are you telling me december meeting if the fed announces tapering, that the markets will take it in stride? that's basically what you're telling me? >> i think it will take it more in stride than maybe it would a month or so ago because the numbers have been getting better in the economy. >> steve, do you agree with that? >> i agree with michael. i think the numbers have been improving all week nothing but good numbers here and starting out with the key 3 gdp, inventory bills. >> strengthening. record auto sales in november, the jobs numbers are very good here today, housing retail, everything looks good and we've been saying all along we think we're going to be tapering into strength and the market is going to see through that. i think we're using 120 next year for s&p earnings, still high relative to the street, but i think people are starting to see that as a real possibility and stocks are trading at 15 times next year relative to everything else you have
it demonstrates the economy may be improving and that the fed should be getting out of the way. >> mike, i'm sorry to interrupt. are you telling me december meeting if the fed announces tapering, that the markets will take it in stride? that's basically what you're telling me? >> i think it will take it more in stride than maybe it would a month or so ago because the numbers have been getting better in the economy. >> steve, do you agree with that? >> i agree with...
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Dec 5, 2013
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but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get sales growth? remember that? what if not everything was about buybacks and dividends, but actually people got excited about wages going up, better employment. >> from your lips to god's ears. >> i'm not saying it's in the bag. i'm saying that it is a possibility. it shouldn't be completely ruled out when you have every central bank on earth throwing as many dollars as they can into the system, don't be shocked if wages tick up and if people start to spend more money. it's entirely possible. >> steve, we'll be watching closely tomorrow morning. we'll see what happens, especially on the heels of t
but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get...
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Dec 6, 2013
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south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and former chairman of b.e.t., old friend of mine. robert, you met nelson mandela many times, okay. how many times did you meet him, what are your thoughts tonight as he passes away? >> yeah, i had the great and humbling pleasure of meeting president mandela on a number of occasions, first with the former commerce secretary, late ron brown, and then i also accompanied president clinton on his historic trip to sub-saharan africa and of course when president mandela came to the united states seeking to raise funds to continue to fight apartheid and support his charities. the one thing, larry, that strikes me abo
south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and...
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Dec 10, 2013
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they need to facilitate the economy. they need to be a port in the storm. but, no, they can't have a casino inside the bank. so, from that standpoint, bank ceos are put on notice. if you have a large bank with the proprietary trading loss over the next few months or couple of years, that ceo's job could be more at risk than ever before. >> but i think kate's take was that there's many, many loopholes here. some of the rules are quite subjective. would you agree with that? >> anytime a regulation like this becomes as precise as the volcker rule has become, there's always ways for many smart bankers and lawyers to get around it. i much prefer principle-based regulation. i mean, the principals can guide what happened. there will be ways around it. having said that the ceo needs to attest that they're not taking big proprietary bets. so i think if after the fact you have a big loss, banks don't get off so easily here. >> so let's get -- you know, now that this is on the table, we know what we're dealing with, many banks have been, you know, gearing up to deal w
they need to facilitate the economy. they need to be a port in the storm. but, no, they can't have a casino inside the bank. so, from that standpoint, bank ceos are put on notice. if you have a large bank with the proprietary trading loss over the next few months or couple of years, that ceo's job could be more at risk than ever before. >> but i think kate's take was that there's many, many loopholes here. some of the rules are quite subjective. would you agree with that? >> anytime...
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Dec 9, 2013
12/13
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. >> they are causing them to become a perpetual part of the unemployed in our economy and while it seems good, it does a disservice to those who need a help. >> and they said it wasn't part of the necessity of a budget agreement. >> negotiations are moving in the right direction. they haven't closed the deal. but i hope as part of it, the negotiators will take to heart what the president had to say. >> the budget conferree was optimistic. >> the key is not to raise taxes at a time when the economy is still week and i think we can accomplish that over the next couple of days. >> there was an agreement on a defense authorization bill which extends combat bay and a compromise of sexual assault prosecutions and a transfer of some gitmo detainees and a deal of chemical weapons. >> on the defense, the house would go first and then the senate could finish up. a deal could be announced as soon as tomorrow to allow time for votes so the threat of a government shutdown doesn't loom over christmas. >> thank you. >>> lying to a senate could be severeus. the truth about lying to the nsa. >> not even
. >> they are causing them to become a perpetual part of the unemployed in our economy and while it seems good, it does a disservice to those who need a help. >> and they said it wasn't part of the necessity of a budget agreement. >> negotiations are moving in the right direction. they haven't closed the deal. but i hope as part of it, the negotiators will take to heart what the president had to say. >> the budget conferree was optimistic. >> the key is not to...
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Dec 5, 2013
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how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial problems that we had. what he was talking about was a connection between high income inequality, stagnant incomes for the middle class and diminished opportunity, diminished opportunity. that's what you have left out. that's essential because, look, the three of us will all agree that we in america don't push for equal outcomes but we do believe there ought to be some equality of opportunity. when inequality gets too high, opportunity gets squashed. >> that's wrong. i know that's the president's line that income has been stagnated for 40 years. that is, a, complet
how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial...
SFGTV: San Francisco Government Television
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Dec 2, 2013
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SFGTV
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help the social service organizations to help and we'll continue to ask people to do that while our economy is a prosperous we need to help each other out. this is a wonderful city we exhibited that last month with the bad kid in our city and even on a more daily basis. i want to remind everybody about the typhoon is still with us with a filipino-american community we're asking ourselves owe everyone else to continue to be the global city and give all you can too >> thank you. next speaker, please. >> help folks that devastation will last year's. thank you, everybody and happy holidays and thaegz and keep sharing with your hearts >> thank you, mr. mayor. we appreciated our being here you're so loyal to the salvation army now i know why. some fast food facts pr 4 thousand meals are served to the search and seizures and soot shut in 3 hundred deliver routes and 45 hundred pound of turkey. are put together for the dinner 8 hundred pounds the green beans and 1 thousand 80 pound of miami. none of the preparations none of them disrupted the meals that everyday we've received for our participants
help the social service organizations to help and we'll continue to ask people to do that while our economy is a prosperous we need to help each other out. this is a wonderful city we exhibited that last month with the bad kid in our city and even on a more daily basis. i want to remind everybody about the typhoon is still with us with a filipino-american community we're asking ourselves owe everyone else to continue to be the global city and give all you can too >> thank you. next...
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Dec 6, 2013
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economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i mean, i think -- >> it was somewhere in between. >> you're talking to somebody who continued embracing marxist policies -- >> but many people thought the country was going to go all the way down, but that didn't happen. and it didn't happen that -- the social needs versus the free market. >> well, you see, i think he came to learn that it's not about balancing the free market versus social needs, that they often converge. >> he said he had to balance the fears of the white population versus the hopes of the black populatio
economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i...
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Dec 10, 2013
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the economy is booming. stocks and corporate profits are record highs. the great american corporations have never been better. don't own any stock? perhaps you have no stock, because you have already invested in bonds. no problem. that market is also at record highs. but perhaps you have no stock, no bonds. you are poor. well, here in america, prosperity trickles down from the all-knowing makers to deserving members of the underclass. you'll gradually learn to ignore that overwhelming sensation that prosperity is, in fact, being sucked up to the top. warning. if we get does not trickle down to you, clearly, you are undeserving and might be subject to self deportation. for those of you with gumption, you will have a job at a great american corporation like walmart or mcdonald's, and you will be well on your way. you'll learn the value of a hard day's work, which we regret to inform you, is not that valuable at all. we will pay you the lowest wage allowable under american law. we do so with will he rubbing tans, as a matter of fact. we would desperately li
the economy is booming. stocks and corporate profits are record highs. the great american corporations have never been better. don't own any stock? perhaps you have no stock, because you have already invested in bonds. no problem. that market is also at record highs. but perhaps you have no stock, no bonds. you are poor. well, here in america, prosperity trickles down from the all-knowing makers to deserving members of the underclass. you'll gradually learn to ignore that overwhelming sensation...
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america's economy, what about this great? this seems to be contrary you would think that renewable energy would save energy but the opposite seems to be true. >> yes, the problem is that renewable energy, wind and solar, it is more expensive an right now they are producing about 5% of our electricity. well as coal reduces about 40%. natural gas and oil produces a substantial amount also. so here the government is trying to get us to switch to a more expensive fuel and at the same time, one that is difficult to store with wind and solar. gerri: we know it is more expensive, we are paying for them and the taxpayers are paying for all of this, either through tax breaks or the green energy companies or other kinds of write-offs. but at the end of the day, why can the grid not handle it? what is a technil issue? >> it is difficult. they turn and they create energy, it is difficult to get that energy over to the coast and we generate a lot of wind energy in the country. and it's difficult to get overlooked where it's needed. and on
america's economy, what about this great? this seems to be contrary you would think that renewable energy would save energy but the opposite seems to be true. >> yes, the problem is that renewable energy, wind and solar, it is more expensive an right now they are producing about 5% of our electricity. well as coal reduces about 40%. natural gas and oil produces a substantial amount also. so here the government is trying to get us to switch to a more expensive fuel and at the same time,...
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Dec 7, 2013
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some say high student loans and i bad economy are reason. others say this is more than a temporary shift, noting sharp decreases in driving in rural areas and among after fluent young people. >> it used to be a rite of passage to get a driver's license and now it's not uncommon for people to say why bother. >> analysts say medical enyals will eventually buy cars when they have the money and when they do they'll buy smaller cars with info takenment systems and better energy. >> thanks for that story. >>> new concerns that people signing up on the obama care website may not actually have coverage at all next year. the latest snafu for the troubled health care law. >> we're obviously encouraged by the progress that's been made, but there continues to be a lot of work to do. the work is not about somebody i spoke to today, a reporter that was sort of asking about corners being turned and things and what that means for the president. it's what it means for the people who are trying to get insurance. [ sniffles, coughs ] shhhh! i have a cold with
some say high student loans and i bad economy are reason. others say this is more than a temporary shift, noting sharp decreases in driving in rural areas and among after fluent young people. >> it used to be a rite of passage to get a driver's license and now it's not uncommon for people to say why bother. >> analysts say medical enyals will eventually buy cars when they have the money and when they do they'll buy smaller cars with info takenment systems and better energy. >>...
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the economy is not good. it may be better than it was a year ago, but it's not good. unemployment is very high. the ability -- there are three applicants for every job. making people more desperate to get jobs, even if it meant that someone was so desperate that he got a job he wouldn't otherwise would have gotten, if you're not increasing the number of jobs, that simply means you're throwing someone else out of work. >> right. congressman jerry nadler, who's been fighting these battles for a while now, thank you so much for joining me. appreciate it. >> thank you. >> joining me now, heda bruche with the washington center for equitable growth, housed at the center for american progress, a progressive think tank. heather, can we start basic here? what is unemployment insurance and why do we have it? >> thanks for asking, chris. that's a great question. unemployment insurance are benefits there when somebody loses their job through no fault of their own. it's benefits that are supposed to help them make ends meet while they search for a new job, and critically, these be
the economy is not good. it may be better than it was a year ago, but it's not good. unemployment is very high. the ability -- there are three applicants for every job. making people more desperate to get jobs, even if it meant that someone was so desperate that he got a job he wouldn't otherwise would have gotten, if you're not increasing the number of jobs, that simply means you're throwing someone else out of work. >> right. congressman jerry nadler, who's been fighting these battles...
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Dec 6, 2013
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we're going to turn to the economy. wall street is reacting positively despite today's better than expected jobs report. i say despite because series of positive results could signal it's time to turn the policies. a net gain of 203,000 jobs. the unemployment rate slid to five-year low of 7%. over the past four months, the economy gained an average of more than 200,000 jobs each month. that's up sharply from the previous four months. okay, if it's jobs friday, it times for our dynamic economic duo, jared bernstein and peter marchi, even you have to feel good about this jobs report. >> i think this is a good jobs report given what we've been through. >> easy, jerry. >> i would like to have more jobs and be around 300,000, 400,000 but i think next year will be even better. so much so i think it is time to start to withdraw the stimulus and start focusing on budgetary priorities in terms of what do we really want to do. what do we really need and worry less about stimulus but more about the fundamentals. we need to rebuild
we're going to turn to the economy. wall street is reacting positively despite today's better than expected jobs report. i say despite because series of positive results could signal it's time to turn the policies. a net gain of 203,000 jobs. the unemployment rate slid to five-year low of 7%. over the past four months, the economy gained an average of more than 200,000 jobs each month. that's up sharply from the previous four months. okay, if it's jobs friday, it times for our dynamic economic...
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even though the economy may be a 2% economy. it's been stunning how profitable companies have been and remain -- >> stunning. >> and also their margins. >> because the shift of income has gone from labor and capital. there's big social implications. >> huge implications. >> i agree with that. and we can have that discussion separately. >> he's not trying to -- >> just wanted to make sure you were in the conversation, joe. >> counter productive to what he's trying to address. what would address it is growth. >> that's good stuff. >> people don't want another -- they want a job. minimum wage increase. >> a job that pays a certain, you know, decent living wage. >> trying to get -- >> that aren't spending, they're not going to hire as many people as before you raised it. >> if you raise the minimum wage, you get more money in 30 million people's pockets, they're going to spend money and -- >> why do you think a company does when it sees overall what it has to pay out on that side of the income statement and sees that go up. they're
even though the economy may be a 2% economy. it's been stunning how profitable companies have been and remain -- >> stunning. >> and also their margins. >> because the shift of income has gone from labor and capital. there's big social implications. >> huge implications. >> i agree with that. and we can have that discussion separately. >> he's not trying to -- >> just wanted to make sure you were in the conversation, joe. >> counter productive to...
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economy i think was the u.k. guilt because in the march budget ten year gilts were trading at one point eight percent with the autumn statement is now at two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers' overall pay has not fallen insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne is saying those are a lie he's going to come out with his own report to show that in fact those numbers are deceptive yeah for new stuff so much a clown as he is one of these french minds and but he speaks which is kind of interesting for a mind he's more of a friend of mine it's a pentagon show and he believes that these numbers do not tell the truth these are all remote
economy i think was the u.k. guilt because in the march budget ten year gilts were trading at one point eight percent with the autumn statement is now at two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers' overall pay has not fallen insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped...
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economy could outperform it might be 2014. i think we should say, governor that it almost has to be 2014. we need to see that priming of the purpose, whatever you want to call it really broaden out to disposable income gains. >> i think that's true. i think bernanke has done an incredible job when you see what's happening in europe to have the chairman of the fed, very fortuitous. i don't begrudge the fact we picked up on the wrong people that didn't need it and got the money -- >> people will say, the wrong people. >> well the people who didn't need it got the money. >> right. >> because i think what he was trying to do is avoid what happened in japan, which is an inflationary crisis. the problem now is challenge, how do you figure how do you get the rest of the 90%? it's much tougher problem than people think because the real problem is housing. if you look at the housing market, the same people that owned the housing market have not come back and a whole lot less people in houses -- >> if the president came to you today and
economy could outperform it might be 2014. i think we should say, governor that it almost has to be 2014. we need to see that priming of the purpose, whatever you want to call it really broaden out to disposable income gains. >> i think that's true. i think bernanke has done an incredible job when you see what's happening in europe to have the chairman of the fed, very fortuitous. i don't begrudge the fact we picked up on the wrong people that didn't need it and got the money -- >>...
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Dec 10, 2013
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economy. we've got big head winds from europe, from the currency, from ongoing deleveraging from households, we need to provide a lot of stimulus. but that stimulus can create risk. you mentioned the housing market, that's one example. we need to take other steps in order to reduce those risks. manage those risks, mitigate those risks and if we -- because if we don't we're going to create bigger problems down the road or we're going to have to pull back too soon on monetary policy which is the last thing we want to do. >> rose: we conclude with michael dell who just completed taking his company private. >> what i will say is that i'm very proud that during the time our company was public our stock appreciated over 13,500%, which was 27 times the amount of the s&p 500 during that same period. so, yeah, we missed something. everybody misses some things but we built one heck of a business. it's still one heck of a business and now it's growing at double digit rates and we're investing for the fut
economy. we've got big head winds from europe, from the currency, from ongoing deleveraging from households, we need to provide a lot of stimulus. but that stimulus can create risk. you mentioned the housing market, that's one example. we need to take other steps in order to reduce those risks. manage those risks, mitigate those risks and if we -- because if we don't we're going to create bigger problems down the road or we're going to have to pull back too soon on monetary policy which is the...
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Dec 8, 2013
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the global economy. it is so great people you need is a milestone for the wto. it marks the organization's first global trade deal since its creation in nineteen ninety five for the first time in our history the wto has truly the limit the deal will lower trade barriers and speed up the passage of goods through customs. most importantly its terms apply not just to reach industrialized states and also the poor developing countries. analysts estimate it could boost the global economy by hundreds of billions of dollars. we have achieved something very significant. people all roam the world will benefit from the beckett who have delivered here today. but some critics say the agreement could prevent or countries from setting their own priority areas like environmental protection workers rights and food security. negotiations dragged into an extra day after last minute legal threats from individual countries. he objected to the removal of a reference to the us trade embargo and india objected to provisions that might stop it from stockpiling subsidized grain to feed f
the global economy. it is so great people you need is a milestone for the wto. it marks the organization's first global trade deal since its creation in nineteen ninety five for the first time in our history the wto has truly the limit the deal will lower trade barriers and speed up the passage of goods through customs. most importantly its terms apply not just to reach industrialized states and also the poor developing countries. analysts estimate it could boost the global economy by hundreds...
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and a little uncertainty as to where the economy is headed. we think we're fine for all the reasons i've given. i think that's what's gone on right now. i think some buyers on the sideline -- remember, november and december really aren't months when we sell a lot of homes. this is the season to be jolly. not the season to buy a home. we really need to wait until february to see where the market is. >> last question. what is the hottest region in terms of demand you're seeing around the country right now? >> i'm going to name three. new york city urban. we're on our 20th high rise in manhattan. jersey city, hoboken, brooklyn. california, coastal california for us is very strong. we just announced a huge deal we're doing out in california which is really a game-changer for the company through the acquisition of shapelle properties and dallas and houston, texas, are doing very well. >> tells you something about what's happening around the country. douglas yearley, thank you for joining us today. appreciate it. >> thanks for having me. >> 12 minut
and a little uncertainty as to where the economy is headed. we think we're fine for all the reasons i've given. i think that's what's gone on right now. i think some buyers on the sideline -- remember, november and december really aren't months when we sell a lot of homes. this is the season to be jolly. not the season to buy a home. we really need to wait until february to see where the market is. >> last question. what is the hottest region in terms of demand you're seeing around the...
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economy continuing to strengthen. i think the president's numbers will recover and people's confidence will recover. >> then, of course, chuck todd had that great point -- >> that was a good point. >> do we have that clip? here's what chuck todd had to say on "meet the press." he pointed out a freudian slip? >> he made a great point. >> watch this, chuck todd. >> page three of the report it says here that the team is operating with private-sector velocity and effectiveness. okay. that is an acknowledgement that, you know what? if this was a government operation for at that long time and it failed now we're bringing in the private-sector folks. that's an indictment on the whole idea of government as a solution, frankly. >> i'm sorry, i was going to tell robert gibbs that's the first time i've laughed since saturday night. >> private-sector velocity. i have to use that as a descriptive term in the future. they did bring in a lot of people from the private-sector to help fix the problems that we do know, robert. >> absol
economy continuing to strengthen. i think the president's numbers will recover and people's confidence will recover. >> then, of course, chuck todd had that great point -- >> that was a good point. >> do we have that clip? here's what chuck todd had to say on "meet the press." he pointed out a freudian slip? >> he made a great point. >> watch this, chuck todd. >> page three of the report it says here that the team is operating with private-sector...
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the economy is weak and vulnerable. i've said the most vulnerable part of the -- this is fiscal policies and monetary policy is not helping either. and u.s. needs a leadership role. stuart: sandra smith in chicago. >> it's monday. stuart: yes, any bubble talk in chicago, sandra? >> yeah, of course it's been around and charles is saying accurately. if you're going to to get a handful of big economists and money managers who are going to call it. it's a distinction, with what robert schiller is saying here. he's not calling this a bubble. he's saying it looks like a bubble. if it is a bubble it could end very, very badly as far as financials and the technology and stuart-- [inaudible] >> look at that, live television and we just froze right there. and i think she was about to make an important point, too, let's see if we can get back to her. you want to round out her thought? >> no, i know those are more short-term traders and obviously the more you go up, the more anxiety there is, and no doubt about that. the parallels
the economy is weak and vulnerable. i've said the most vulnerable part of the -- this is fiscal policies and monetary policy is not helping either. and u.s. needs a leadership role. stuart: sandra smith in chicago. >> it's monday. stuart: yes, any bubble talk in chicago, sandra? >> yeah, of course it's been around and charles is saying accurately. if you're going to to get a handful of big economists and money managers who are going to call it. it's a distinction, with what robert...
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we'll discuss his pivot from the health care to the economy. and we will talk with new york attorney general eric schneiderman on the multi-million dollar crackdown of jpmorgan and the future of too big to fail. all that when "now" starts right after this. your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of america's energy comes from right here at home. take the energy quiz. energy lives here. >>> how much longer can fast-food ceos hold the line at $7.25? it's thursday december 5th and this is "now." from houston to kansas city, from chicago to indianapolis, memphis to charlotte, pittsburgh to boston and on over to new york city. fast-food work
we'll discuss his pivot from the health care to the economy. and we will talk with new york attorney general eric schneiderman on the multi-million dollar crackdown of jpmorgan and the future of too big to fail. all that when "now" starts right after this. your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better...
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rowe price we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information risks, fees and expenses to read and consider carefully before investing. >>> eight >>> eight minutes left in the selling session. we're down 85 now 88 points on the dow. that's the lows of the session right there. pulling back from those all-time highs we had been seeing early last week. joining us to talk about the markets, jeff from raymond james and bob pisani as well. jeff, you're thinking about taxes. you think that's what's going on? people doing tax planning before the end of the year? >> the people i talked to on the retail side are talking about not selling, trying to carry profits into next year. that's what we see on the retail side. my timing models that called for pullback, are calling for a pullback here. they say it's a go ahead time to be cautious. if you get a pullback i thin
rowe price we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information risks, fees and expenses to read and consider carefully before investing. >>> eight >>> eight minutes left in the selling session. we're down 85 now 88 points on the dow. that's the lows of the session right there....
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what matters to this company is the economy has to do well. the economy xwigz is going to d little better in 2014 and 2015. 2.7 then 3% growth. it's still going to be fairly anemic growth when compared to other post-war recoveries. so still wait for good relative performance before you jump on this one. >> all right. ryder what's our last one? i think it's ibm. what do you think, ryder? yep. ibm. give that dog a bone. he's been really good. shares of the computer services company, volatile this year, down about 11%. hugh, why don't you take ibm first. >> ibm, strorts about ibm, what happened in 2013 especially the third quarter, is emerging markets business in china. china down 22% to revenues. emerging markets down 9 %. what we're going to get in 2014 is i think a turn in china and i think that's written in the cards but i don't think we're going to see it in the emerging markets. so i think it's okay. you can buy ibm here and cross your fingers, look for positive relative performance, falling knife there too. wait for positive relative perfo
what matters to this company is the economy has to do well. the economy xwigz is going to d little better in 2014 and 2015. 2.7 then 3% growth. it's still going to be fairly anemic growth when compared to other post-war recoveries. so still wait for good relative performance before you jump on this one. >> all right. ryder what's our last one? i think it's ibm. what do you think, ryder? yep. ibm. give that dog a bone. he's been really good. shares of the computer services company,...
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canada's economy is growing at its fastest pace in the past two years. it's not just the birthplace of gosling, celine and bieber, it may be home to some of the best stocks you've never heard of. cramer reveals the canadian club, just ahead. >>> plus, tequila time. the holidays are here, and that means presents, decorations and lots of booze. americans bought almost $20 billion worth of liquor this year, but could a stiff drink lead to a solid return? cramer gets in the spirit with the founder of avion when he goes off the tape. all coming up on "mad money." >>> don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. and ah, so you can see like right here i can just... you know, check my policy here, add a car, ah speak to customer service, check on a claim...you know, all with the ah, tap of my geico app. oh, that's so cool. well, i would disagree with you but, ah, that would make me
canada's economy is growing at its fastest pace in the past two years. it's not just the birthplace of gosling, celine and bieber, it may be home to some of the best stocks you've never heard of. cramer reveals the canadian club, just ahead. >>> plus, tequila time. the holidays are here, and that means presents, decorations and lots of booze. americans bought almost $20 billion worth of liquor this year, but could a stiff drink lead to a solid return? cramer gets in the spirit with the...